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The Different Stages Of the Blockchain

As mentioned earlier, blockchain is now a much larger concept, from distributed cloud computing to NFT. The blockchain path can be divided into:

Blockchain 1.0.

Blockchain 2.0.

Blockchain 3.0.

Blockchain 1.0: is Currency

The implementation of distributed ledger technology led to its first and most visible use: cryptocurrencies. Enables blockchain-based financial transactions. Bitcoin is the best-known example.

The Different Stages  Of the Blockchain

Blockchain 2.0: Smart Contracts

Smart Contracts are small computer programs that “live” in a blockchain. Used as a contract replacement, Smart Contracts automatically maintains and controls pre-set conditions, such as forwarding, verification, or enforcement.

The Different Stages  Of the Blockchain

Blockchain 3.0: DApps

DApps is an acronym for decentralized applications that have their backend code on a decentralized p2p network. A DApp can have a frontend written in any language that can send a request to its backend, just like a traditional web application.

The Different Stages  Of the Blockchain

The Limitations of The Blockchain

However, Blockchain is still at an early stage, full of limitations, but expanding at an impressive rate. Here is a cheat with all the current limitations of Blockchain.

The Different Stages  Of the Blockchain

Conclusions:

Although Blockchain is still a proof or concept, it already runs thousands of decentralized applications and millions of users. A $ 1.5 trillion market developed for developers, making it one of the most sought-after skills in the technology sector

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